Banking and Finance (145) Test 2025/2026 QUESTIONS AND
ANSWERS GUARANTEE A+
____________ is an automatic loan made to you by a financial institution if you write a check or
make a debit charge for more money than you have in your account. - Overdraft protection
A(n) _______ is a report that accounts for the differences between a bank statement and a
checkbook balance. - bank reconciliation
A computer-based system that moves money from one account to another without writing a
check or using cash is a(n) _________. - EFT
The person who writes a check is referred to as the _________. - drawer
The value of a house, less the amount still owed on the money borrowed to purchase it, is called
the __________. - equity
A type of debt that allows you to borrow money up to a set limit without having to make more
than the minimum payment each month is a(n) ______________. - revolving loan
The 9-digit number printed on a check that identifies the bank that holds the checking account
and the Federal Reserve District the bank is located in is called the ____________. -
transit/routing number
Credit Unions have the ability to offer _____________ than commercial banks. - higher interest
on savings
In a lease agreement, a tenant may have to pay the landlord a security deposit to _____________.
- guard against any financial loss
ANSWERS GUARANTEE A+
____________ is an automatic loan made to you by a financial institution if you write a check or
make a debit charge for more money than you have in your account. - Overdraft protection
A(n) _______ is a report that accounts for the differences between a bank statement and a
checkbook balance. - bank reconciliation
A computer-based system that moves money from one account to another without writing a
check or using cash is a(n) _________. - EFT
The person who writes a check is referred to as the _________. - drawer
The value of a house, less the amount still owed on the money borrowed to purchase it, is called
the __________. - equity
A type of debt that allows you to borrow money up to a set limit without having to make more
than the minimum payment each month is a(n) ______________. - revolving loan
The 9-digit number printed on a check that identifies the bank that holds the checking account
and the Federal Reserve District the bank is located in is called the ____________. -
transit/routing number
Credit Unions have the ability to offer _____________ than commercial banks. - higher interest
on savings
In a lease agreement, a tenant may have to pay the landlord a security deposit to _____________.
- guard against any financial loss
